Successful People Who Have Filed for Bankruptcy

Successful People Who Have Filed For Bankruptcy

Often times I receive phone calls from people suffering from financial distress that would greatly from filing a bankruptcy case, but refuse because they don’t want to consider themselves failures. However, there have been many famous and successful people who have encountered financial difficulties and filed for bankruptcy. These famous people achieved extraordinary success after filing for bankruptcy.

Walt Disney’s first company filed for bankruptcy in 1920, after a one of his biggest clients filed for bankruptcy and he was unable to pay his employees’ wages. In 1928 he created the character of Mickey Mouse and went on to be wildly successful after his bankruptcy filing.

Henry Ford, the founder of Ford Motor Company, filed for bankruptcy after his first motor vehicle did poorly and his first company went under. However, Ford did not let the bankruptcy deter him and saw bankruptcy as a way to start over. He went on to found the Ford Motor Company and had a wildly successful life after bankruptcy.

Milton Hershey, founder of the delicious Hershey’s Chocolate Company, started his business life by founding a series of companies that failed and had to file for bankruptcy. Hershey did not give up after filing for bankruptcy and pursued his passion of candy making. He founded the Lancaster Caramel Company, which went on to be wildly successful.

What these people that filed for bankruptcy have in common is that they saw bankruptcy as an advantage and not a hindrance in their life. If they hadn’t filed for bankruptcy then they would have been saddled with debts that they couldn’t repay for the rest of their lives. Had they been saddled with debt then it would’ve been very difficult, if not impossible, to fund all these successful companies that created so many jobs and that are part of America’s culture. You too can file for bankruptcy and achieve success thereafter.